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Bitcoin whales move fresh coins to exchanges in repeat of behavior before $42K BTC price dip

The price of Bitcoin fell from its peak on September 1st, taking the market cap down with it. A large amount of coins were bought back by major investors who had been moving out for months as prices increased exponentially. The behavior is similar to that which occurred in December 2017, when some whales moved their coins off exchanges and onto other wallets before a selloff in Bitcoin took place.(https://www.ccn.com/bitcoin-whales-move-fresh-coins-to-exchanges/)

The “bitcoin price prediction” is that the bitcoin whales are moving fresh coins to exchanges in a repeat of behavior before the $42K BTC price dip.

Bitcoin (BTC) whales may be preparing to sell at any time as the price of the cryptocurrency hovers around $47,000.

On Dec. 5, on-chain analytics company CryptoQuant warned that significant volume moves on exchanges were growing again in its daily QuickTake market reports.

Whales are more willing to sell, according to data.

CryptoQuant’s exchange whale ratio statistic revealed that significant Bitcoin investors were not taking any risks with short-term price activity.

The highest inflows and outflows from exchanges are compared to overall inflows and outflows to determine the exchange whale ratio.

The indicator climbed over the top 0.95 level before Saturday’s drop to $41,900 — and is back in the same zone as of Monday.

“Whales continue to deposit BTC on exchanges. The Exchange Whale Ratio surpassed 95% “”Once again,” CryptoQuant said.

“The Taker Buy Sell Ratio is still negative, showing pessimistic sentiment in the futures market.”

As Cointelegraph previously reported, open interest on futures exchanges plummeted at the conclusion of last week, but the question remains if the flushing out was sufficient to prevent more price declines.

Bitcoin whales move fresh coins to exchanges in repeat of behavior before $42K BTC price dipAnnotated graphic of the whale ratio on the Bitcoin market. CryptoQuant is the source of this information.

On the day regarding market mood, Cointelegraph writer Michal van de Poppe stated, “The period when the bulk of the markets are only anticipating additional fall to happen.”

“The bulk of people were anticipating a parabolic run in December three weeks ago.”

BTC losses on exchanges have resumed.

Continuing, CryptoQuant noticed that after temporarily surging just before the drop, exchange reserves were already back in their long-term decline.

Bitcoin emotion is “similar to a funeral” – 5 things to watch this week in Bitcoin

“As the expected leverage ratio plummeted -22 percent, the futures market began to cool,” it noted.

Bitcoin whales move fresh coins to exchanges in repeat of behavior before $42K BTC price dipAnnotated graphic of exchange inflows. CryptoQuant is the source of this information.

Smaller investors, on the other hand, have been adding to their positions over the last few days, in contrast to both whales and Bitcoin price corrections earlier in 2021.

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The “yahoo finance” is reporting that Bitcoin whales moved fresh coins to exchanges in a repeat of behavior before the $42K BTC price dip. The article also mentions that this could be an attempt by whales to manipulate the market.

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